The digital asset industry is taking another step toward the quantum era. The Responsible Fintech Institute (RFI) and Safeheron are launching a large-scale cross-regional pilot project aimed at testing post-quantum cryptography in real banking and regulatory environments. This is not just a laboratory experiment, but an attempt to simulate a future where quantum computers become a real threat to classical encryption algorithms.
The key objective is to verify how well quantum-resistant infrastructure can support wallet generation and digital asset transactions without compromising performance or security. Safeheron serves as the technology partner, providing its platform, while RFI coordinates interaction between participants and jurisdictions.
Technical Foundation and Participants
The pilot is based on a 2-of-2 MPC protocol integrated with ML-DSA-65, a digital signature standard approved by NIST under FIPS 204. Testing will take place in NEAR's quantum-resistant testnet, where researchers will examine not only basic operations but also cross-border compatibility, operational resilience, and compliance with governance requirements.
The list of participants is impressive: regulators from Abu Dhabi Global Market, the Royal Monetary Authority of Bhutan (Gelephu) and Malta, as well as banks Bison Bank and DK Bank. In the first phase, government bodies will act as observers, and in the second phase, they will actively engage with governance and regulatory issues.
Following the testing, the authors plan to publish a white paper with a detailed description of the protocol and results. Moreover, the source code of the underlying technology will be opened for independent audit, allowing the entire industry to prepare for the post-quantum transition.
This step is a direct continuation of the trend started by Anchorage Digital, which already presented its strategy for protecting institutional assets from quantum threats in August. However, the current pilot goes further, involving not only private companies but also government bodies in the process, which is critical for establishing global security standards.
My view: The initiative is timely, but one should not expect immediate results. Quantum computers capable of breaking RSA or ECC still remain a hypothetical threat on a 5-10 year horizon. Nevertheless, it is now that the foundation is being laid for migrating the financial system to new standards. The participation of regulators is a signal that post-quantum cryptography is ceasing to be a topic of purely academic discussion and is moving into the practical realm. Open source code is the right step, allowing the community to identify vulnerabilities before they become critical.